Updated

"Up or down?" The answer is "Yes"

Hello everyone, I hope you are having an amazing day.
I'm here again today with another TA on BTCUSD

This is a not so long TA because I'm still not 100% confident that this was the end... But don't quote me on that :D
You can see on the chart several lines, I'll explain.
Blue: Wedges (We already broke upwards)
Yellow: Downtrend
Green: Support levels
Red: Resistance levels
Simple :P

This breakout from the wedge had big momentum as you can see by the big green candle.

Looks like price already tested the downtrend and the top of the wedge as support here take a look at 15min chart to see price movement easier:

I've also added the Fib from the move (7.2k to 8.4k) and drew the bull flag thats making. We should expect a little retrace to the 8k zone I would say :D

This is it, a short and simple Idea, I also made this one because the other one was already too big and the pattern had already did what was predicted :D

DISCLAIMER:
This is my own personal opinion! Don't take what I say for granted, this is NOT financial advice. Don't spend what you can't afford to lose, and remember, patience is a key on this Crypto Market! Hold is life!

Trade safe and have a nice day!

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I forgot to add something, there is no guarantee that this was our 'bottom' so our other targets (check the idea thats on the Related Tab) are valid, as time goes on I'll reconsider.

Until then, have an amazing day!

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I'll say this once again, I'm not 100% confident with this call.
I mostly made this new Idea because the other was was already kind of full.
I can fail of course, and If I do, ill have no problem admitting it.
Learn with your mistakes.

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Bull flag broken, price hitted our resistance (red line)

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Resistance at 8.6k (red line) did it’s job, we have support at 8.2k

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Green lines are support, i think i see a bear flag forming. trade safe.

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Looks great for me ;)

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8.6k seems to be broken after a breakout from the ascending triangle. 50% is at 8850 but we are above that, there’s a resistance at 9.2k thats a potential target for this upward movement.

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Possible outcome if this ‘battle’ with the old support isn’t broken.
Let's see how it reacts.
Trade safe!

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Price moving inside the Bull Flag (possible)
The white box is a support/resistance zone, being above that zone is positive for further bullish move.
Next zone to look for bounces is 9.3k (red line)

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On a shorter TF it looks like an ascending triangle
Booth are bullish patterns.
Tagert near 9.3k we could see bounces there.

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Last triangle failed.
I see bear flag now.
I expect bearish action if a breakout happens (downwards of course)

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Bear flag or Rising wedge visible on 15min chart.

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Possible inverted H&S could drive price a bit more up...

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Stoch RSI in oversold areas, RSI holding above 50.
4H TF

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lol on 1D we have the exact opposite, BTC is sending mixed signals it’s hard to read this… For now waiting is the best option.

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Ichimoku: Price respected the Kijun at 4H TF. Cloud is thick so it means it’s a powerful resistance. Tenkan stands at 8.7k it will also work as resistance.

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Last wedge already had it's breakout

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Possible bull flag

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Possible Inverted Head and Shoulders forming

There’s a bull flag inside the right shoulder that could drive price to the neckline.. Let’s wait

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Looks like we have a breakout!

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The last H&S shared is looking healthy!

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Bullish MACD cross at 4h

Bullish MACD cross at 1D

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Big Triangle (symmetrical) it can break booth ways but I’m expecting a brekout upwards (due to the MACD crosses I shared an hour ago)

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UPDATE!!!

We are inside this big bull flag (blue) a breakout should take us to the 11.6k (Important level) at least! because you can see that the pole (blue) is huge!, on the right side we also have an inverted head and shoulders and inside that right shoulder we have another bull flag (yellow) that should take us to the bigger bull flag (blue) breakout zone (near 9.5k) Once again, 11.6k is an important level because we had a double top there so it’s a big resistance, remeber that along tha tway there are more resistances (like the 9.4k) that are heavy!

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(click it!)
New TA based on the last update I shared to you guys, I'll move the updates to there!

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Hello everyone thought I'd leave my opinion on bounce levels for BTCUSD <deleted>
(click it)

Reading it all and dropping a like would be great!

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Bitcoin and the Bear, a Love story! [BTC]

Here's the link (last one had a mistake it's now fixed)

angel_lobs

Also on:

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Bitcoin inside Wedges [BTC]

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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

angel_lobs

Also on:

Related publications

Bitcoin inside Wedges [BTC]

by angel_lobs